Re: [ISBA RealEstate] Does dissolution sever joint tenancy |
"Walter Conlon" <conlonw@mcslawiowa.com> | Friday May 28, 2010 09:48 |
|
I would tend to agree with Mark. The only case I found remotely on point is
Estate of Bates, Matter of, 492 N.W.2d 704 (Iowa App., 1992), which states
that the intent of the parties in a divorce governs whether a divorce severs
a joint tenancy. However, in that case, the intent was implied from a
provision in the divorce documents in which the parties agreed that the
property should be sold and the proceeds equally divided. Perhaps we should
consider recommending to the general assembly a statute which says that in
the default of contrary language in a divorce decree, joint tenancies on
real property will be severed into tenancies in common?
On the same topic, might we also want to reverse the presumption in deeds of
tenancy in common where the parties are married and, at a minimum, where the
property is to be used as a homestead? It would more correctly reflect the
overwhelming number of conveyances to married couples.
Walter Conlon
Attorney at Law
METCALF, CONLON & SIERING, PLC
126 West Second Street
Muscatine, IA 52761-3713
563-263-9494 (phone)
515-897-2313 (direct dial)
563-263-7824 (facsimile)
This office is a debt collector and any information obtained may be used for
that purpose.
--------------------------------------------------
From: "Mark V. Hanson" <Hanson@whitfieldlaw.com>
Sent: Friday, May 28, 2010 10:11 AM
To: <realestate@iabar.org>
Subject: RE: [ISBA RealEstate] Does dissolution sever joint tenancy
> I haven't seen anyone jump in on this yet, so I'll take a shot. Others
> may differ.
> We see divorce judgments all the time in abstracts. But, interestingly
> the divorce judgments are in a high percentage of the time drafted by
> attorneys who seem not to be versed in real estate law, and seem to give
> no thought to what the title effect is by the way they draft the judgment.
> No mention of the house in the divorce decree means to me nothing has
> changed.
> A mere divorce does not change title unless there is language in the
> judgment which does so.
> I have seen nothing in all my reading which says the mere act of divorce
> severs the joint.
> Maybe someone else has and can correct me.
>
> In your case,
> I think Cheryl had a claim against the sale proceeds for the first
> $15,000. But, I think after that it is still in joint tenancy. That may
> not have been the intent, but that may be the effect with no mention in
> the judgment of any other aspect of the title to the real estate.
> Other opinions?
>
> Another question is, if she takes by surviving joint tenancy, does she owe
> Iowa inheritance tax because she took Stephen's interest but is not
> surviving spouse? (Excluding the $15,000 she was to receive off the top.)
> I would think so.
>
>
> Mark Hanson
> Des Moines
>
>
>
>
>
> -----Original Message-----
> From: realestate-owner@iabar.org [mailto:realestate-owner@iabar.org] On
> Behalf Of Craig Willis
> Sent: Friday, May 28, 2010 8:07 AM
> To: realestate@iabar.org
> Subject: [ISBA RealEstate] Does dissolution sever joint tenancy
>
> In the following situation was the real estate still owned as joint
> tenants by Stephen and Cheryl on the death of Stephen or did his divorce
> from Cheryl sever the joint tenancy?
> Stephen and Cheryl are conveyed property as joint tenants. They get
> divorced and the stipulation reads: Cheryl and the children shall remain
> in and live in the property as long as they desire and Cheryl will be
> responsible for house payments, utilities, etc.. It is expressly agreed
> that in the event the property is sold the net proceeds shall be
> divided: $15,000 to Cheryl and the amount remaining after said payment
> of $15,000 shall be divided into equal shares and paid directly to
> Stephen and Cheryl. (Stephen and Cheryl have 2 children: Joseph and
> Jessica)
> Stephen gets remarried to Beverly and then divorced from her. They have
> 2 children: Cecil and Bethelyn.
> Stephen dies and Cheryl is claiming full title to the property as the
> surviving joint tenant. The estate proceedings are a CIT proceeding.
> Craig Willis
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